Sashakt India

Sashakt India

Question: Consider the following statement regarding Sashakt India:

  1. Sashakt India was recommended by Sunil Mehta Committee.
  2. Sashakt India is meant for combating large NPAs.

Choose the correct options from the following:
(a)1 only
(b)2 only
(c)1 and 2 both
(d)Neither 1 nor 2
Answer: (c)
Related facts:

  • Sunil Mehta, the Chairman of a Banker’s Panel, said an ‘asset management company’ (AMC) for resolving large bad loans has been formed and will be called as Sashakt India Asset Management.
  • With an aim to resolve the problem of stressed assets with public sector banks, the government has come up with a new plan –Sashakt- which includes creation of one or more widely held asset management companies for loans above Rs. 500 crore. The Government had formed a panel led by Sunil Mehta, the Non-executive Chairman of Punjab National bank.

  • He indicated that identifying potential investors for Alternate Investment Fund (AIF) which will fund the AMC. The committee is engaged with private sector banks to become the potential investors.
  • The Mehta committee comprises representatives of all major banks, including State Bank of India.

By Ramayan Upadhyay


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